Youngsville, North Carolina Property Taxes
The median property tax rate in Youngsville, NC is 0.79%, slightly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Youngsville at $174,058, the typical annual property tax bill is $1,337, which is below the national median of $2,690. Property taxes in Youngsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Youngsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Youngsville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Youngsville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,375
Ownwell’s Youngsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Youngsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Youngsville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Youngsville, North Carolina
Property taxes in Youngsville, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Youngsville is 0.79%, lower than the U.S. national median of 0.99%. Local government entities within Youngsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Youngsville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Youngsville's effective property tax rate to other areas in Wake County and the national median. For comparison, the 27596 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these areas compare with Youngsville provides valuable insights into the varying tax landscape across Wake County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Youngsville Tax Rate
0.79%
Average Wake County Tax Rate
1.10%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Youngsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27596 | 0.78% | 0.79% | 0.79% | 0.79% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Youngsville, North Carolina
In Youngsville, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Wake County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Youngsville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Youngsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27596 has both the highest and lowest median tax bill at $1,337.
Property Tax Assessment Values Across Youngsville, North Carolina
Source: Ownwell
$174,058
$394,571
$615,084
Average Youngsville Assessed Value
$174,058
Average Wake County Assessed Value
$302,078
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Youngsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27596 | $111,965 | $153,297 | $174,058 | $209,419 | $396,622 |
Source: Ownwell
Property Tax Bills Across Youngsville, North Carolina
In Youngsville, located in Wake County, NC, property tax bills are calculated based on the assessed value of a property. The local government assesses properties to determine their value, which forms the basis for the tax calculation. Once the assessed value is established, it is multiplied by the tax rate set by the county. This tax rate is applied uniformly across all properties. Factors influencing the tax bill include the property's market value, location, and any applicable exemptions or deductions. For instance, a median home price in Youngsville is around $174,058. Property owners in the 25th percentile might see tax bills around $1,190, while those in the 75th percentile could pay approximately $1,595. The tax bill can significantly impact homeowners, with those in the 90th percentile facing up to $2,922 annually. Comparatively, the national median property tax rate is 0.99%, which helps put Youngsville's rates into perspective. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Youngsville Tax Bill
$1,337
Average Wake County Tax Bill
$3,098
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Youngsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27596 | $809 | $1,190 | $1,337 | $1,595 | $2,922 |
Source: Ownwell